Capesize (Atlantic and Pacific)
Market considerable up during all last week: the Baltic index rose 410 points, the 4 t/c routes gained about $4.500 and penetrating the $80,000 level (actually reaching $80,584); but basically all market and not only the Atlantic were very active. Especially in the fixture for Atlantic round because of lack of tonnage able
Brazil in the first half of March have brought the rates close to $90,000 i.e. only about $9/10,000 less than fronthaul which is almost at $100,000 daily!! Pacific basin as well has improved with the rounds being fixed at about $75,000 level and backhaul at close to $60,000 level. Coal from Richards Bay averaging was just below $25.00 for discharge Rotterdam. Period market also shown to be very active with a number of fixture for short period done at about $72,000 for capes of 175.000 dwt, and about $65,000 for 12 months.
Panamax (Atlantic and Pacific)
Period activity absolutely ’’crazy'': rates increased dramatically as the week drew to a close. One year fixed at $34,250 daily for and near $30,000 daily for two years. Grain houses were also fixing for short periods and four to six months done in the $40,000 daily ranges. Spot market also in the pacific was under pressure with owns starting to move with $39,500 daily for a NoPac round, while in the Atlantic ships talking close to $50,000 daily for a trip to the East (ITA has been done at $45000).
Handy (Far East/Pacific)
Period interest dominated again the area with a number of reported fixtures concluded at better money. A large Supramax achieved $31,000 per day for a 12 months period. Some other similarly sized vessels were booked for shorter durations at higher money. Another Supramax was rumored fixed for an Indian round voyage at a rate offers $30,000 daily while backhaul business was quieter this week. Modern handysizes have rapidly gained back the lost ground and are now running again at rates well over the $20,000 mark for local trips; one of these boats was also reported book for a 12 month charterer at slightly over $20,00 daily.
Handy (North Europe/Mediterranean)
Another supramax was reported fixed at a fat rate with delivery north continent to load in
Morocco for a trip to
Australia, even if same includes an “Australian fertilizer friendly” bonus for the owners, it still shows that although the Continental area looks very dull on the surface, it hides a firmer market. Mediterranean and Black Sea still appear quite dry of business but a supramax reported fixed for a Black Sea/Persian Gulf at a rate just below $30,000 and a delivery in the Eastern Med looks rather optimistic.
Handy (USA/N.Atlantic/Lakes/S.America)
US Gulf rates, initially holding to previous week levels, quickly started to grow along the week. Chartering interest was mostly devoted to single trips, both for Transatlantic and Eastern destinations. A non-eco type Supramax achieved good for a trip into
Far East while firm transatlantic trade again allowed owners to fetch good money delivering their tonnage on the European side. There is not much to add to the Supramax fixtures reported basis delivery West
Africa via
South America to the East. Agreed money and delivery show themselves
South America is back to steam.
Handy (Indian Ocean/South Africa)
There has been a lot of concerns in the shipping community due to the Indian government suddenly imposing an immediate export tax for
iron ore export of Rupees 300/ton per cargo. While awaiting to see how far this drastic economical measure shall be able to affect the chartering, b Market in the Indian area showed good money was agreed for single trips to
China and a few 12 month period supramax fixtures were reported concluded at levels which have now become much closer to that would be achieving basis delivery in the Pacific.
Banchero Costa and Co Spa
Mail: research@bancosta.it
Web: www.bancosta.it